@Random_Bunny wrote:
Where do I enter this tax they have already withheld which should apply against the tax liability Turbotax is calculating on our total income (line 1) which now includes corrective distribution against the excess deferral?
A recharacterization is never subject to tax and no tax should ever be withheld. This sounds more like the financial institution dis a return of contribution and withheld tax n the taxable earnings and not a recharacterization. You need to talk the the financial institution as to exactally what they did.
And the term "corrective distribution" is used with a "return of excess contribution" and not with a recharacterization which are two totally different things and reported in different ways.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
